PFS Consulting supports enhancing governance standards but believe additional clarity is needed on some specific elements of the proposals, and how they will be implemented and enforced. We also think it’s worth considering when to provide more prescription in certain areas. We’ve also raised several important additional matters which were not explicitly addressed in the proposal.
A fund’s default insurance settings serve as a critical point of differentiation and have a meaningful influence on member retention rates.
APRA has proposed measures to strengthen governance in financial institutions. Read the summary of the problem statements along with proposals
The Privacy and Other Legislation Amendment Act 2024 (the Amendment Act) was passed on 29 November 2024 and received Royal Assent on 10 December 2024,
APRA recently released its Policy Priorities and Supervision Priorities for 2023. Read the PFS Risk Consulting team’s essential guide to what your financial institution needs to know:
PFS Principal, Sean Williamson, recently produced a thought-provoking article about Operational Risk inherent in Insurance in Superannuation.
PFS Consulting (PFS) continues to expand its actuarial, risk and regulatory expertise and services to support new and existing clients.
PFS Consulting would like to thank Principal Ian Laughlin and his team at the Actuaries Institute’s Disability Insurance Taskforce for all their great work in preparing this document.
